Elderly Homeowner In Foreclosure Allegedly Victimized By Predatory Loan Commits Suicide

In East Palestine, Ohio, The Youngstown Vindicator reports:

• A 72-year-old woman who feared she’d lose her home to foreclosure hanged herself to death, the family lawyer said. [She] died the morning of Jan. 24 at her home, just days after receiving her second summons and foreclosure complaint from her mortgage lender, said Atty. Robert B. Holman of Bedford.

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• The foreclosure complaint was filed Jan. 6 in Columbiana County Common Pleas Court by Chase Home Finance in Columbus. [...] In a 31-page counterclaim lawsuit,(1) Holman names as third-party defendants Lake Erie Title Agency in Dayton, North Coast Capital Funding in Cuyahoga Falls and SML Corporation, a real estate agency in Hudson, Ohio.

For more, see Family says suicide caused by foreclosure action (Lawyer: Couple in their 70s and on fixed income was given a 30-year, $160,000 loan).

Go here for other posts on foreclosures and suicide.

(1) Holman alleges in the lawsuit filed on behalf of the [homeowners] that [they] were the victims of a predatory lending scheme. He said the bank, mortgage company and title insurance company used an inflated appraisal of $200,000 to create an over-inflated mortgage loan, thereby putting [them] on the path to financial ruin. He said the property [...] had a market value of $80,000. suicide homeowner foreclosure zeta